There are reports that the company has begun meeting with senior executives in the industry to fill up two new positions of product and head of business development. Apple's e-commerce chief Jennifer Bailey is reportedly interviewing the candidates.

Reports further stated that the company is looking to leverage the hundreds of millions of credit cards linked to its iTunes accounts.

It would create a payment system where users could easily make in-app and online purchases via the Touch ID sensor.

Now, all eyes are on Apple after PayPal's recent certification of the Samsung Galaxy S5's fingerprint sensor authenticating PayPal payments.